POTASH MINERALS LIMITED (ASX:POK) - Trading Halt - 28-Aug-15, 15903334, page-26 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum

Originally posted by abdm ↑

Hi dougfr,

Firstly, I don't see any risk whatsoever to the existing shareholders of POK other than if current arrangements between POK and Buddy were to be terminated, which I believe to be highly unlikely given the happy demeanour of Buddy's CEO today.

Re: reverse stock split and Section 3.9 (the 20 cent rule) – The new policy recognizes that where an entity’s securities have been trading on ASX at less than 20 cents, having to undertake a consolidation or other restructure to facilitate compliance with the 20 cent rule prior to, or in conjunction with, a capital raising can impose structural, timing and other impediments to the completion of a transaction that might otherwise be in the interests of an entity and its security holders. In such a case, ASX will consider a request from the entity not to apply the 20 cent rule provided: 

The issue price or sale price for any securities being issued or sold as part of, or in conjunction with, the transaction:


is not less than two cents each; and 

is specifically approved by security holders as part of the approval(s) obtained under Listing Rule 11.1.2; and 

ASX is otherwise satisfied that the entity’s proposed capital structure after the transaction will satisfy Listing Rules 1.1 condition 1 and 12.5 (appropriate structure for a listed entity).

Update to ASX Listing Rules Guidance Note 12 Significant Changes to Activities

To my understanding, conditions precedent for the completion of the acquisition will include among other things, the issue of shares in Potash under a capital raising in an amount sufficient for Potash to re-comply with Chapters 1 and 2 of the ASX Listing Rules. The initial Option Agreement to acquire Buddy was announced to the market on 20/07/2015 after POK opened @ 4.9c so the issue of 150m shares to raise $7.5m was only representative at the time of that market release. I would be more than happy for Potash to announce a CR @ 5c on a pro-rata basis to existing shareholders, but I doubt that will happen, nor would it be in the Company's best interests when it is already trading at a +200% premium.
 

View attachment 91684
View attachment 91688

Pros and cons of conventional versus back door listing on the ASX

As mentioned above the incoming CEO appears to be in very good spirits today... and I suspect this probably has more to do with pouring gasoline on the fire than his fav footy team winning...

View attachment 91691 View attachment 91692

@thepylee

Bloody downrampers

Expand

"The trading halt is to last until the Company releases an announcement, expected to be before opening of trading on Tuesday, 1 September 2015;"

So either today or before market tomorrow.
Not long now

EDE

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

BNL

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

LYN

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

AUN

Cyclone signs MOU with Vale for development of Iron Bear play

AN1

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

ME1

Banshee's historic trenches prove rich in antimony and gold for GDM

GRL

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

HotCopper Highlights: Your most watched stocks for Week 46, 2024

BTH

"The trading halt is to last until the Company releases an...

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Cyclone signs MOU with Vale for development of Iron Bear play

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

Banshee's historic trenches prove rich in antimony and gold for GDM

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

HotCopper Highlights: Your most watched stocks for Week 46, 2024

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing

"The trading halt is to last until the Company releases an...

Top Stories

NT Gov't delivers environmental approval for Empire Energy's Beetaloo Carpentaria pilot gas play

Blue Star Helium sees approval for five more wells at 'Galactica/Pegasus' project in Colorado

InhaleRX gains approval for clinical trial to test non-opioid therapy for cancer pain

Cyclone signs MOU with Vale for development of Iron Bear play

CuFe sells its Crossroads gold royalty to Northern Star for $4M cash; says better than waiting for mine launch

Week 46 Wrap: Copper hits 2mth low as Trump threatens net zero pace; US rally fades; HotCopper’s picks

Banshee's historic trenches prove rich in antimony and gold for GDM

To make modern missiles, you need 3D Printing. And in that gold rush, Amaero is selling shovels

HotCopper Highlights: Your most watched stocks for Week 46, 2024

Bigtincan's Board backs Investcorp offer: Why a NASDAQ listing could be game-changing